(Answered) : Retirement Planning Meeting Richard Monica 62 Agreement Well Short Money Needed Retirement Q28865568

At the retirement planning meeting, Richard and Monica(62) were in agreement that they were well short of the money theyneeded for retirement at Richard’s age (65). Richard said he wantedto manage the investments and thought that savings outside thepension given current lower tax rates for capital gains anddividends made sense.

In working out the capital needs analysis, it becameapparent that there was need for an additional $17,000 of savingsannually over what was previously calculated. The first reason hadto do with a recent job development that resulted in a projectedmoderation in Richard’s raises in salary to a level 1–2 percentagepoints